While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
Current Positions
APPL Long????????????? ? ?? ????? 520.70????????????????????? 518 ?????????????????????600
SSO Long?????????????????? ? ? ?? ? 98 ?????????????????????????????????????? ? ? ? ? ? ? ? 104
SFH Short????????????????????????? 111.76????????????????????? 112.25
USH Short ??????????????????? ? ?? 130.08???????????????????? 130.11
DXJ? Long? Jan 14 52 Call ???? .43
Today's Working Orders
Buy USH @ 128.03 to cover shorts
Buy SFH @ 111.23 to cover 1/2 our short position GTC (app 89.95 USD/CHF)
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Stocks..
DXJ...this ETF is starting to trade like the UNG ( Natgas ETF) with the price action on Tuesday.
Readers know that I'm not a fan of the Natty Etf's and I'm becoming sanguine about this instrument as well.
30 Bonds...
30 yr. (Mar)...are getting short term oversold again. Sell 2 point rallies, not breaks.
FX...
USD/JPY...it wouldn't surprise me to see 106.70 ( App 93.72 Futures)
by the first week of 2014.
Commodities...
December metals futures expire today.
General Comments or Valuable Insight
Leave the orders from Tuesday working (No Change).
The Swiss just isn't ready to go. I had a trade like this is the Aussie earlier in the year that took almost two weeks before it worked.
Aussie just stayed in a 100 point range before it went almost 700.
You have two choices when a trade just won't get up and go;
Get out hoping to hit it when it does start or you can just close your eyes and let the stop do it's job.
Markets will remain extremely thin!
Instruments tend to travel in the direction they've been moving into year end.
Short Term View...
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technicals.
We're looking for the Equity Indices to rally through the first week of the year.
For Glossary of terms and abbreviations click here.
